Furniture retailer grows sales; invests in brand refresh

Furniture retailer HSL has reported another growth in sales as turnover surpassed £50m.

According to its latest filed accounts for the year ended 31 December 2022, total sales were up 10.6% to £54.7m from £49.5m in 2021, further adding to its growth of 16.5% from £42.4m in 2020.

Pre-tax profit resulted at £1m, down from £2.9m recorded the previous year, but up from £544,000 over a two-year comparison.

Stated within its report, the company said that despite experiencing good growth, performance was still impacted by the war in Ukraine, cost-of-living crisis and the death of Queen Elizabeth II.

“Despite these industry challenges, HSL made the strategic decision to continue to invest in its operations and brand. This included extensive customer and medical research, unusually high consultancy costs in achieving Cabron Neutral status, and the launch of HSL Feel Good Furniture – a refresh of the company’s brand, which included significant investments in new content across all marketing channels,” the business said.

During the period, the company maintained its number of showrooms at 53, which also included a relocation of its Liverpool store after exiting its lease and moving to a new space in Formby.

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